2015-05-13T14:17:30-05:00 2014-06-30 111986323 MARCUM LLP 53 STATE STREET FLOOR 38 BOSTON MA 02109 990 2013-07-01 042105750 TOWER SCHOOL IN MARBLEHEAD INC TOWE 7816315800 75 WEST SHORE DRIVE MARBLEHEAD MA 01945 DEAN SIDELL TREASURER 7816315800 2015-05-12 1 BARRY CHAIT P01452996 6177429666 2015-05-12 2013 2016-02-25 16:41:14Z PETER S PHILIP 75 WEST SHORE DRIVE MARBLEHEAD MA 01945 11072348 0 X HTTP://WWW.TOWERSCHOOL.ORG X 1912 MA PRE-K TO GRADE 8 EDUCATION 20 20 155 0 0 0 956466 2011805 7525952 7518280 213237 232545 158620 137415 8854275 9900045 1587391 1492724 0 0 5161666 5153890 59397 37699 538588 2431764 2933142 9240218 9617455 -385943 282590 17825226 17902924 8403278 7939052 9421948 9963872 X TOWER SCHOOL AIMS TO SPARK A LIFELONG LOVE OF LEARNING IN OUR STUDENTS BY PROVIDING A STIMULATING EDUCATION IN A SUPPORTIVE ENVIRONMENT. WE ENCOURAGE CHILDREN TO STRIVE FOR PERSONAL LEVELS OF EXCELLENCE AND TO DEVELOP FULLY ACROSS A BROAD RANGE OF ACADEMIC, PHYSICAL, CREATIVE, AND SOCIAL ENDEAVORS. TOWER SEEKS TO NOURISH A SPIRIT OF INQUIRY, TO IMPART AN APPROPRIATE BODY OF KNOWLEDGE, TO SET HIGH STANDARDS, TO INSTILL STRONG LEARNING HABITS, AND TO HELP STUDENTS BECOME SECURE IN THEMSELVES WHILE RESPECTING THE DIGNITY OF OTHERS. 0 0 6914181 1492724 7547402 EDUCATED 280 STUDENTS, GRADUATED 25 STUDENTS AND PLACED THEM IN NUMEROUS QUALITY PUBLIC AND PRIVATE SECONDARY SCHOOLS. 6914181 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 11 0 155 1 0 0 0 0 0 0 0 0 0 0 X 20 20 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 0 0 MA X PETER S PHILIP 7816315800 75 WEST SHORE DRIVE MARBLEHEAD MA 01945 PRISCILLA SAVAGE SECRETARY 1.00 X X 0 0 0 KEN WALKER CHAIRPERSON 1.00 X X 0 0 0 TAYLOR MILNER TREASURER 1.00 X X 0 0 0 TRICIA CRAIG TRUSTEE 1.00 X 0 0 0 EDYTHE BAKER TRUSTEE 1.00 X 0 0 0 STEPHEN CHENEY TRUSTEE 1.00 X 0 0 0 JIM BYRNE TRUSTEE 1.00 X 0 0 0 TIM MUMANE TRUSTEE 1.00 X 0 0 0 LEILA BLODGETT TRUSTEE 1.00 X 0 0 0 MEGHAN BURKE TRUSTEE 1.00 X 0 0 0 TIMOTHY JOHNSON TRUSTEE 1.00 X 0 0 0 ANDREA MCEACHERN TRUSTEE 1.00 X 0 0 0 VONDA RAISIDES VICE-CHAIR 1.00 X 0 0 0 LIZ BRADLEY TRUSTEE 1.00 X 0 0 0 BRAD ROBIE TRUSTEE 1.00 X 0 0 0 GABRIELLE ROGERS TRUSTEE 1.00 X 0 0 0 PETER SORENSEN TRUSTEE 1.00 X 0 0 0 ROBERT LANG TRUSTEE 1.00 X 0 0 0 DONALD SOUTER TRUSTEE 1.00 X 0 0 0 PETER S PHILIP HEAD OF SCHOOL 60.00 X 237700 0 50563 DEAN A SIDELL BUSINESS MGR 60.00 X 163623 0 27276 401323 0 77839 2 0 1 0 0 2445 2009360 190340 2011805 TUITION AND FEES 611600 7207471 7207471 SUMMER PROGRAM 611600 310809 310809 7518280 102624 102624 157918 56460 101458 101458 101458 1187536 1057615 129921 129921 129921 65063 2445 58228 6835 6835 MISCELLANEOUS 611600 29122 29122 29122 9900045 7547402 0 340838 1492724 1492724 418245 253728 164517 3762938 3322378 267266 173294 190348 148559 29627 12162 474627 370082 81548 22997 307732 243985 38339 25408 2452 2452 28720 28720 37699 37699 23603 23603 50297 50297 115679 75120 24333 16226 196317 116892 79425 430857 198342 232515 78143 78143 476576 429709 46867 49489 49489 PLEDGE BAD DEBT 663909 663909 STUDENT ACTIVITIES 316982 316982 MISCELLANEOUS 180591 25990 74646 79955 BAD DEBTS 117804 117804 201723 95275 100118 6330 9617455 6914181 2164686 538588 1652129 340318 236152 609703 1288723 1191930 193586 56196 216746 264867 14638546 5792131 9257140 8846415 4936039 6545298 5631 44711 42566 17825226 17902924 83100 40810 2959682 2733352 3302785 3185723 1440424 1389574 617287 589593 8403278 7939052 X 9410085 8800227 123937 11863 1039708 9421948 9963872 17825226 17902924 282590 259334 0 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 5736217 1061060 345223 250000 6892500 5712685 10935 262597 250000 5736217 5882303 139231 -74536 234313 5712685 5589739 191071 335806 234313 5882303 5744965 277736 58933 491895 5589739 0.84210 0.15080 0.00710 0 0 1910627 1910627 12193681 5353124 6840557 460871 389416 71455 73367 49591 23776 8846415 ACCRUED EXPENSES 589593 589593 X 8781343 259334 -1492724 -1233390 10014733 -114688 -114688 9900045 8239419 114688 114688 8124731 1492724 1492724 9617455 PART V, LINE 4: WE USE A SMALL AMOUNT OF THE EARNINGS EACH YEAR FOR OPERATIONS. THE FUND PRINCIPAL IS PROTECTED AND INTENDED FOR USE IN FUTURE YEARS TO PROVIDE EARNINGS POWER AND FINANCIAL STABILITY. PART X, LINE 2: THE SCHOOL IS RECOGNIZED AS AN ORGANIZATION EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (THE "CODE") WHEREBY ONLY UNRELATED BUSINESS INCOME,AS DEFINED BY SECTION 512(A)(1) OF THE CODE, IS SUBJECT TO FEDERAL INCOME TAX. THERE WAS NO UNRELATED BUSINESS INCOME FOR THE YEARS ENDED JUNE 30, 2014 AND 2013. THE SCHOOL RECOGNIZES AND MEASURES ITS UNRECOGNIZED TAX POSITIONS IN ACCORDANCE WITH FASB ASC 740, INCOME TAXES. UNDER THAT GUIDANCE, THE SCHOOL ASSESSES THE LIKELIHOOD, BASED ON THEIR TECHNICAL MERIT, THAT TAX POSITIONS WILL BE SUSTAINED UPON EXAMINATION BASED ON THE FACTS, CIRCUMSTANCES AND INFORMATION AVAILABLE AT THE END OF EACH PERIOD. THE MEASUREMENT OF UNRECOGNIZED TAX POSITIONS IS ADJUSTED WHEN NEW INFORMATION BECOMES AVAILABLE, OR WHEN AN EVENT OCCURS THAT REQUIRES A CHANGE. THE SCHOOL DID NOT IDENTIFY ANY UNCERTAIN TAX POSITIONS AT JUNE 30, 2014 AND 2013. INTEREST AND PENALTIES ASSOCIATED WITH UNRECOGNIZED INCOME TAX POSITIONS, IF IDENTIFIED, WILL BE CLASSIFIED AS ADDITIONAL INCOME TAXES IN THE STATEMENTS OF ACTIVITIES. THE SCHOOL IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY PERIODS IN PROGRESS. THE SCHOOL BELIEVES IT IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS PRIOR TO 2011. PART XI, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL AID AND TUITION REMISSION -1,492,724. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES -56,460. SPECIAL EVENT EXPENSES -58,228. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 56,460. SPECIAL EVENT EXPENSES 58,228. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID AND TUITION REMISSION 1,492,724. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 WE PLACE AN AD WITH THE ASSOCIATION OF INDEPENDENT SCHOOLS IN NEW ENGLAND EACH YEAR IN A MAJOR BOSTON NEWSPAPER. X X X X X X 1 JAQUES AND CO 254 BAY ROAD SOUTH HAMILTON MA 01982 CAMPAIGN PLANNING 0 563915 37699 526216 563915 37699 526216 MA GOLF TOURNAMENT 28920 2445 26475 12551 4881 3091 LIBRARY BOOK FAIR 7000 7000 6579 2 31588 31588 31127 67508 2445 65063 12551 4881 40797 58229 6834 1 FINANCIAL AID 82 1136269 TUITION REMISSION 14 337627 SUMMER CAMP SCHOLARSHIPS 4 1886 SUMMER CAMP REMISSION 12 16942 PART I, LINE 2: ALL GRANTS ARE USED FOR EDUCATIONAL SERVICES AT TOWER SCHOOL. X X 1 1 X X X X 0 0 0 0 0 0 0 0 0 PETER S PHILIP HEAD OF SCHOOL 237700 0 0 0 0 0 37753 0 12810 0 288263 0 0 0 DEAN A SIDELL BUSINESS MGR 163623 0 0 0 0 0 19253 0 8023 0 190899 0 0 0 PART I, LINE 1A HEAD OF SCHOOL HAS A DISCRETIONARY ACCOUNT FOR USE WITH JOB RELATED EXPENSES. TOWER SCHOOL ALSO PAYS VARIOUS HEALTH CLUB AND SERVICE FEES ON BEHALF OF THIS INDIVIDUAL. A EASTERN BANK 043067724 5756427A5 2007-07-01 4000000 BUILDING PROJECT 0 0 0 A 4000000 53160 3946390 2007 0 0 1 1 A 0 0 0 0 0 0 0 A 0 0 0 0 0 0 0 0 0 A 0 PAM SIDELL WIFE OF BUSINESS MANAGER 11093 WAGES PAID FOR ADMINSTRATIVE WORK FOR THE FRONT OFFICE. 0 X 10 189280 FMV 0 0 0 FORM 990, PART VI, SECTION B, LINE 11 A COMPLETE COPY OF THE FORM 990 WAS PROVIDED TO THE BOARD OF TRUSTEES PRIOR TO FILING, HOWEVER, THE NAMES AND ADDRESSES OF THE DONORS ON SCHEDULE B OF THE FORM WERE NOT PROVIDED. THE BUSINESS MANAGER, HEAD OF SCHOOL AND TREASURER REVIEW THE FORM 990 PRIOR TO DISTRIBUTION TO THE BOARD. ONCE THE 990 REVIEW IS COMPLETE, IT IS SIGNED AND FILED. FORM 990, PART VI, SECTION B, LINE 12C EACH MEMBER OF THE BOARD REVIEWS AND SIGNS THE POLICY AND IS REQUIRED TO DISCLOSE ANY SUCH CONFLICTS. FORM 990, PART VI, SECTION B, LINE 15A COMPENSATION FOR THE HEAD OF SCHOOL IS DETERMINED BY A REVIEW OF THE COMMITTEE ON TRUSTEES. THE REVIEW INCLUDES A PERFORMANCE EVALUATION AND MARKET COMPARISON WITH INDEPENDENT SCHOOLS OF OUR SIZE AND IN OUR GEOGRAPHIC AREA. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XII, LINE 2C: THERE HAS NOT BEEN ANY CHANGE IN THE OVERSIGHT PROCESS OF THE AUDIT OR THE SELECTION PROCESS OF THE AUDITORS.